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Lenders urged to declare plans

KGB Packaging is calling on lenders to declare whether or not they intend to commit to active lending so that packagers can plan for market recovery.

Rachel Bancroft, managing director of KGB, says: “I believe that the good news cannot start until all the bad news is finished. We all want to see recovery in the mortgage market, but none of us are going to see any sign of recovery until the full extent of the credit crisis is known.

“Only then can brokers and the public regain confidence in the market.

“I know that ultimately the smaller UK operations don’t have control over what their parent companies wishes are but I am calling on the Investment banks to make decisions now so that distribution firms can plan effectively.”

Bancroft adds: “The phrase about lenders either, lending, pretending or ending was much quoted following the recent mortgage packager summit.

“I really wish that that the ‘ending and pretending’ lenders would decide whether they want to stay or go, so that everyone in the distribution chain understands the true state of the market and can start to plan for the recovery.”


The survivors will inherit the market

At the end of March it was gratifying to announce to the market that we hadn’t gone into administration and had actually enjoyed a record month.

Landlords told to release equity now

Cardiff-based property financier Kingswood Associates is calling on landlords to release equity from their properties before it’s too late. It says it has become harder for them to refinance because of the credit crunch. John Phillips, managing director of Kingswood, says: “As the market tightens landlords must raise the finance they need quickly.” He adds […]

In The Long Run

Beset by knee problems while training for the London Marathon, e-Conveyancer’s Vanessa Blount (pictured) confessed to Mole last week that she was beginning to lose the plot as the big day drew near.

PTP shuffles pack to survive crunch

Personal Touch Packaging has reshuffled its senior management team and advises packagers to move away from sub-prime to survive the credit crunch.PTP’s marketing and communications director Michelle Harriss, sales director John Manning and operations director Samantha Cross have been made redundant but this has enabled the packager to take on five extra staff to focus […]

Can UK companies satisfy global appetites?

By Mark Martin, Manager of Neptune UK Mid Cap Fund

Rapid economic and income growth is leading to a dramatic shift in diet towards protein products right around the globe. UK companies such as Genus, the world’s largest livestock breeder, are benefiting from this increasing demand. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses this investment theme.


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